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All Forum Posts by: Mike Barone

Mike Barone has started 14 posts and replied 82 times.

Post: Need Help to Dig Deeper - Private Investigator?

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53
Quote from @Randall Alan:

I personally think you are wasting your time.  The trustee is usually a lawyer or accountant that is working to settle an estate.  Trustees know how to sell a property.  They will have regular people they turn to.  It is entirely possible that the family will decide to keep the property, or one person in the family will take the property, and the others will be compensated for their portion of the real estate.   The reason it is sitting idle is typically because it can take 1-2 years to settle an estate.  It could be that they are tied up in legal battles, but most likely probate proceedings.  

The idea  that you could find the trustee and somehow scoop these up is slim to none in my opinion. I wish you the best, but spending money to try and pursue these is probably money wasted.

Wish you the best!

Randy

 Thanks for sharing your experience and thoughts. 

Post: Need Help to Dig Deeper - Private Investigator?

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53

I have a lead that I have hit a dead end on. There are 2 properties that are associated with the same trustee and I cant find any contact info. Should I hire a private investigator? If so any recommendations for someone who specializes in this for investors? 

Here is everything I have tried already:

Door Knocked both properties in 2 different counties (They are vacant) 

Skip Trace Trustee name

Skip Traced know associates and neighbors

Probate Attorney Looked up any docket info in both counties where the properties are located, and nothing came up to help find Heirs or Owner 

Any other suggestions are appreciated! 

Post: Lot Selection Tips in Cape Coral, FL

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53

@Trevor Fleck @Stetson Miller Thanks for the feedback this is valuable information

Post: Lot Selection Tips in Cape Coral, FL

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53

Have you ever removed the burrowing owls from a lot in Cape Coral? Estimated time and cost for removal? I saw some info on the county website saying a few thousand dollars for removal. 

Post: Local Investors/Realtor Broward Plantation

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53

Hi @gracemercado I am a wholesaler local to the Davie/ Plantation area in Broward. I can recommend Title Guaranty of Weston for any wholesale transactions. They have a great staff in place and are very knowledgable for assignments, double closes, transactional funding ect. Feel free to reach out anytime. 

Post: More than MOTIVATED New wholesaler in need of creating structure

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53

@Jacob Younger all your questions are valid as a new investor. It really comes down to picking a strategy and just going all in on it. Every marketing strategy works you just have to choose which one will work best for you in your current situation. The first wholesale deal I closed on was in Broward County where you are from. I am sure you have heard many others say be consistent and that is the key to getting your first deal. I would suggest you spend 99% of your time marketing or talking to sellers. Finding buyers is the easy part if you have a good deal. 

Post: Agent said not to worry about cash flow and consider tax benef

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53

@Nathan Yarnell From my past experience in the last market downturn I got burnt by others saying to "buy and its a great deal" even though it was not cash flowing. I had to short sale a couple of properties and lost a lot of money. It was before I really understood REI and I will never make that mistake again. Find an investor friendly agent, go direct to seller, or utilize a local wholesaler in your market.

Post: Short Term Rental Fort Lauderdale Beach

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53
Originally posted by @John Underwood:

Airbnb is a platform. This is a STR or in your case a vacation rental.

It's an early morning post...My brain is just warming up for the day... I did have STR in the main title at least :)

Post: Short Term Rental Fort Lauderdale Beach

Mike BaronePosted
  • Investor
  • Davie, FL
  • Posts 92
  • Votes 53

My friend has a pocket listing that's going to go for about 2 million. It is a perfect Air BB just steps away from the sand on Fort Lauderdale Beach. Needs updating but it has a 2 bed 2 bath house and then another building on the property with 2 studios with a pool. I have my capital tied up in another multifamily project but if anyone has a creative strategy lets run the numbers and work something out.  

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